A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
February 21 Coverage to February 27
Egypt witnessed an 18% increase in the volume of trade exchange between Egypt and Arab countries last year, as Arab markets account for 30% of total Egyptian exports, the Ministry of Trade and Industry said.
Egypt is the second most targeted market for mergers and acquisitions deals after the United States in 2021. It concluded the year with 233 deals, an increase of 49% over 2020, and the total value of these deals reached $9.9 billion, an increase of 486% over 2020, the Information and Decision Support Center in the Council of Ministers (IDSC) announced.
The Egyptian economy witnessed an improvement in economic performance, achieving a growth rate of 8.3% during the second quarter of fiscal year (FY) 2021/22, according to the Ministry of Planning and Economic Development (MPED).
Egypt’s gross domestic product (GDP) is expected to increase by EGP 582 billion to reach EGP 6.9 trillion by the end FY 2021/22, MPED announced.
In 2021, Egypt concluded the development of financing agreements worth $10.2 billion, including $8.7 billion for the various state sectors and $1.56 billion for the private sector, according to the Ministry of International Cooperation’s (MOIC) statement.
During the last 24 years, Egypt’s exports to Azerbaijan have increased at an annual rate of 21.7%, from $87,500 in 1995 to $9.77 million in 2019, (MOIC) announced.